As a Public Benefit Corporation, we are guided by our core values — do the right thing, customer success, employee success, and speed — to help the life sciences industry improve health and extend life and to create high-quality jobs that benefit our employees and communities.
As a PBC, we operate as a for-profit company, but we also pursue a public benefit purpose that is listed in our certificate of incorporation, can only be changed by shareholder vote, and is intended to provide societal benefits beyond just shareholder financial returns. Our public benefit purpose is as follows:
To provide products and services that are intended to help make the industries we serve more productive and to create high-quality employment opportunities in the communities in which we operate.
Equally important, as a PBC, our directors have a legal responsibility to balance the interests of shareholders with the interests of customers, employees, and other key stakeholders.
Operating as a PBC aligns with our longstanding Vision and Values.
Our goal is to be the most strategic technology partner to the life sciences industry. Our PBC structure and purpose helps ensure that we are aligned with the life sciences industry and will remain so into the future as we support the industry’s broad mission to improve health and extend life.
We also strongly believe in the multi-stakeholder approach. Throughout Veeva’s history, we have always taken customers, employees, partners, and our communities into account when making decisions. Indeed, we believe that to achieve meaningful success and maintain market leadership over longer periods, companies must balance the interests of key stakeholders.
Overall, we believe that pursuing our public benefit purpose and considering the interests of our key stakeholders enhances our relationships with customers, employees, job candidates, partners, and the communities where we operate in a way that makes our business more durable. In turn, shareholders stand to benefit when employees are engaged and happy, when partners can collaborate and add value, when customers are more productive, and when customers feel more comfortable partnering for the long term.
Our board of directors has established objectives in pursuit of our PBC purpose. Our objectives may change over time as our business and our relationship with the industries we serve evolves. For more details on our PBC objectives and progress, see our PBC Report.
We report against our PBC obligations annually and publicly. We believe in transparency and the value of formalizing commitments by writing them down and communicating clearly. Our PBC Report explains how the PBC structure reflects our Vision and Values and how we are pursuing our public benefit purpose and multi-stakeholder obligations when we make important decisions.
Vision: Building the Industry Cloud for Life Sciences
We focus on cloud technology, data, technical services, business consulting, and a network of partners to help the global life sciences industry become more efficient and effective. We aspire to become essential to and appreciated by the life sciences industry.
Our values are listed in priority order from one to four.
Do the Right Thing
We pride ourselves on being good humans that are honest, direct, and humble. We don’t lie, cheat or steal. We treat others how we wish to be treated and respect each individual person. We trust common sense over excessive rules. We consider customers, employees, the industries we serve, and shareholders in making decisions. Veeva is not all about the money.
Customer success has three parts. First, it's about the people in the companies we serve. They should enjoy working with our products and people. They should be able to count on us and know we will go the extra mile when needed for customer success. Second, it's about the companies. Our products and services should deliver positive ROI over the short and long term. And third, for the industries we serve. Veeva products and services should have a positive effect on the industry, making it more efficient, innovative, and effective. We strive to be an outstanding and highly strategic partner to the industry over the long term.
Veeva should be a place where employees can do their best work and work around great people in an environment of teamwork. Employees should be treated with respect and given the appropriate supporting structures to effectively 'captain their own ship' for growth and excellence. We are careful in who we hire, and we take action when things are not working out. We prefer to promote internally based on potential. We compensate fairly based on contribution.
We should try our best to do things quickly and correctly the first time. We should get the important things done today rather than tomorrow. As we grow, we must push decision making down to operating levels to retain our speed, agility, and innovation. We know that as a company grows it will tend to slow down. We fight against that gravity. We celebrate mistakes and learn from them. A company that has no mistakes has no speed, takes no risks, and has little reward.
Our current business operations and future growth depend on having a highly engaged workforce with a diverse set of skills and life experiences operating together with a common vision, values, and ways of working. To attract and retain our workforce, we offer competitive compensation and benefits. In addition, we take a holistic approach to our employees’ well-being and offer access to physical and mental health programs and resources so our employees can focus on their chosen wellness goals. But compensation and benefits are not everything. We have also adopted some unique practices that we believe differentiate Veeva.
Veeva’s core values guide our decision-making and define our culture. We recognize a responsibility to customers, employees, environment, and society. As a company, we strive to be a good corporate citizen, a positive force in the business community, active in our communities, and an example to others. Learn More
At Veeva, we don’t ask employees to sign non-compete agreements as a condition of employment and we will not let a current or past employer agreement prevent us from hiring a qualified candidate. We believe that non-competes are an unfair method of competition, restrain competition and depress wages, violate employee rights and limit their productivity, have real world consequences on individuals and competitors, are unnecessary to protect intellectual property, and narrow the job market. Learn More
We are committed to operating in an environmentally responsible manner. In 2022, we implemented an International Organization for Standardization (“ISO”) 14001-certified Environmental Management System, detailing our commitment to pollution reduction, energy and water efficiency, and waste reduction, tracking the effectiveness of our environmental sustainability program, and meeting or exceeding applicable environmental laws and regulations. The audit committee of our board of directors is responsible for oversight of our environmental management program. Our GHG emissions data can be found here. Our full Environmental Policy can be found here.